XRP, one of the most talked-about cryptocurrencies, has faced a period of lackluster price action, frustrating many investors. Despite trading significantly below its all-time high (ATH), some experts believe that XRP could be on the verge of a dramatic rally that will see it surpass its previous record within weeks.

Currently, XRP is 81% below its ATH, which was reached during the 2017 crypto boom. While Bitcoin has been enjoying a price discovery phase this year, consistently setting new highs, XRP has lagged behind. Bitcoin has gained a substantial 112% year-to-date (YTD), while XRP’s growth has been considerably slower at just 11%. Altcoins like Solana and Binance Coin (BNB) have outperformed XRP, with each seeing over 100% YTD gains.

Out of the top 100 cryptocurrencies by market cap, 71 have outperformed XRP in terms of yearly performance. This has led many market observers to write off XRP as having little potential for a bull run. However, despite these underwhelming results, core supporters of XRP remain optimistic, arguing that the token still holds significant promise and could soon be on the cusp of a breakout.

XRP Could Rally to ATH Within Weeks

Prominent macro investor “Pharaoh” recently shared his perspective on XRP’s price action on social media platform X, stating that while XRP has a history of frustrating investors with stagnant price movements, this could be setting the stage for a massive rally. Pharaoh emphasized that XRP has historically followed a pattern of suppressed price action, only to break out dramatically when least expected.

This outlook draws parallels to XRP’s behavior during the 2017/2018 bull run. In December 2017, XRP was trading at just $0.2365, but by January 2018, the asset surged by 1,523%, reaching a peak of $3.84 in just a few weeks. Some XRP enthusiasts are hoping for a similar surge in the current bull market, predicting that the asset may soon experience another explosive price rally that could propel it past its ATH.

XRP’s Recent Price Action Shows Early Signs of Recovery

XRP’s recent price action is also giving investors hope that a recovery is underway. This week, the cryptocurrency surged over 25%, pushing its price above $0.70 for the first time in eight months. This marks a notable shift from the stagnant price action that has plagued XRP for much of 2024.

Analyst Javon Marks believes that the recent bullish movement signals the early stages of a larger rally. While he maintains a conservative target of $15 for XRP in the near term, Marks acknowledges that if the cryptocurrency repeats its historic performance, the price could soar as high as $200 in the event of a full-blown rally.

Marks highlights that XRP’s potential remains intact, and despite its current struggles, the coin is showing signs of gathering momentum. The strong surge in price over the past week is a clear indication that the market may be beginning to revalue XRP, and the cryptocurrency could be preparing for a new bull run.

Will XRP Surpass Its All-Time High?

While XRP’s short-term price action has been frustrating, analysts agree that the cryptocurrency still holds significant potential for the future. The recent price spike above $0.70 has given many investors renewed confidence, and there are growing expectations that XRP will break past its previous ATH within weeks.

Supporters of XRP point to its strong community, ongoing technological development, and strategic partnerships as factors that could help the token reach new heights. Moreover, the broader market rally, driven in part by Bitcoin’s price discovery, could further fuel XRP’s upward momentum.

In the coming weeks, the cryptocurrency world will be watching closely to see if XRP can continue to build on its recent gains and break through its all-time high. If the asset can replicate its previous explosive growth, XRP could potentially see a surge that takes it to uncharted territory, rewarding long-term holders and attracting new investors along the way.

Conclusion: XRP Could Be Poised for a Major Breakout

XRP may have struggled to keep up with the growth of Bitcoin and other altcoins in 2024, but there are strong indications that the asset could be on the verge of a significant price surge. Historical patterns suggest that XRP often frustrates its holders with sluggish price action before suddenly surging past key resistance levels.

With recent bullish signals and renewed market interest, experts believe that XRP could surpass its all-time high in the coming weeks. While conservative targets suggest a $15 price point for the near term, a full bull rally could push XRP as high as $200, making it one of the most exciting assets to watch in the cryptocurrency space.